NAIC Discusses Risk Mitigation, International Engagement in Panama
At the Insurance Sector Supervision Forum in Panama City, Panama, sponsored by the Superintendency of Insurance and Reinsurance of Panama (SSRP), California Department of Insurance Commissioner Ricardo Lara presented on risk mitigation in the U.S., providing insight into the NAIC’s National Climate Resilience Strategy for Insurance and state insurance regulators’ other efforts to curb the effects of natural disasters such as earthquakes, floods, wildfires, and more.
Additionally, NAIC Director of International Affairs Ryan Workman discussed insurance regulation in the U.S., including the role of the NAIC and its committees, as well as the organization’s top priorities and international efforts.
On the sidelines of the event, the NAIC met with representatives from the SSRP to discuss mutual priorities and plans for further engagement and collaboration with the NAIC as a new member of the Association of Insurance Supervisors of Latin America (ASSAL).
About the National Association of Insurance Commissioners
As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally.